Volatility.
The headlines say our economy is imploding. Costs of borrowing are going up. The stockmarket has shown signs of collapse. The pound has been on a slippery slope. Merryn Somerset Webb, the shrewd editor-in-chief of MoneyWeek, says this is not all bad. It is volatility, not collapse. The markets are working to find new prices for assets to reflect changes. This is what they are supposed to do. Three things matter right now: sovereignty, trade and migration, and what kind of deal the UK can get in departure from the European Union. Hard work ahead. The sectoral elites will catch up.
Research and money.
Kathryn Oliver (University of Oxford) has made a surprising discovery. Our government spends billions of pounds on research aimed at guiding and informing policies. Yet it is now known our rulers are unaware of what is commissioned and disseminated. Moreover, there is evidence that government-funded research is sometimes deliberately buried or delayed. These realisations do not encourage the promised transparency and open government. A new report from Sense and Science found that only four of the twenty-four government departments keep central records of what research they authorise and publish.
SMEs and fraud.
Tungston has published the results of a survey relating to corporate procurement. It revealed that this country’s small and medium-sized businesses, on average, acknowledge losing £1,700 each year to fraud associated with invoices. The real loss might be much higher because this crime goes undetected and some SMEs are reluctant to disclose it.
Occupational pensions.
Andy Haldane is the Bank of England’s chief economist. He has emphasised that pensions in the UK are over-complicated and impossible to understand. Mr Haldane told the guests at a major annual dinner in the City of London that this undermines hopes and harms individuals’ efforts to save for later in life. These comments follow reports which have concluded the general public does not generally have the confidence or knowledge to find out how much is needed for retirement.
Bad boss?
Andrew Saunders and Management Today have set out the telltale signs that a management style needs a makeover. These are: You are unavailable. You cannot recall the last time you said ‘sorry’ or ‘thank you’. You have no idea what your working group get up to in their spare time. You pull rank to win arguments. You do not listen enough …. or listen too much. You recruit easy, unthreatening people. You never stray beyond your comfort zone. You turn everything into a competition. You forgive failing in yourself, but not others. You say ‘I know this is stupid, but we have to do it anyway.’
Good old Clem.
‘Democracy means government by discussion, but it is only effective if you can stop people talking.’ Clement Attlee, 1983-1967. Deputy Prime Minister of UK, 1942-45, Prime Minister, 1945-51.
So rare.* ‘With conversation, talking is the craft, listening is the art.’ *Oscar Wilde, 1854-1900, Irish playwright, novelist, poet and wit.